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Chopra: Initiative to Promote Access to Capital for Tech Startups

White House Chief Technology Officer Aneesh Chopra, Photo: OSTP.gov

White House Chief Technology Officer Aneesh Chopra may be one of the top techies in government, but he’s also playing a key role in one of the administration’s new Silicon Valley-friendly economic initiatives.

Chopra took to the Treasury Department blog to tout Startup America, the White House’s new initiative to spur economic investment and encourage entrepreneurship.

Chopra, who met with investors, small-business owners and entrepreneurs this week for a kick-off conference, said one of the key areas of focus for the program is in removing barriers to capital.

“One thing we heard is that small businesses are still struggling to access capital,” he wrote. “In the past two years, financing has been tough for all companies, but it has been particularly tough for startups that lack existing collateral or cash flows for loans.”

Access to capital is especially important considering small businesses are the biggest drivers of the economy in terms of creating jobs, he said.

Click here to read Chopra’s blog post.

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